The trustees of the Necropolis Springvale, administrators of three Victorian cemeteries, are seeking an implemented consultant to consolidate up to $80 million currently managed internally or by sector specialists.
The finance manager of Necropolis Springvale, Dale Mitchell, said the trustees would retain control of a direct equity portfolio currently worth around $40 million, but wanted to streamline management of $80 million across unitised investments in Australian equities, international equities, listed property, fixed interest and alternative investments. “;We’re looking for an implemented consultant to tighten up the management and develop a long-term benchmark and target return for us,”; Mitchell said. The Necropolis’ $120 million portfolio represents backing for the actuarially calculated perpetual maintenance obligation reserves for the three cemeteries. Expressions of interest are due this Thursday, and Mitchell hoped the new arrangement would be up and running by March 2008.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
